Binance Zero Fees For BTC Trade in Binance

[Yugocean]

On the occasion of the fifth anniversary of largest crypto exchange platform Binance, its CEO CZ announced on 8th July 2022 that Bitcoin trading is now zero fee.

By the way, Binance has been introducing multiple contests from time to time, and now it is giving contests daily, and rewarding the winners. But making bitcoin trade free of fees is a big relief for people in spot trading.

According to CZ, this is to give relief to the people in difficult times of the market. But it can also be assumed that CZ did this to prevent bitcoin traders from leaving binance exchange.

Since many centralized exchange platforms are on the verge of closure due to bankruptcy, and they are not giving investors control over their assets, many investors are withdrawing their cryptocurrencies from various platforms.

Thus this is cross control of situation, CZ has encouraged bitcoin traders to stay on his platform and in return, he provided relief.​

 

[mathawmio]

The fee war will eliminate many exchanges that cannot afford to compete with the major exchanges. The services that Binance is providing are very convenient. Smaller exchanges will have a hard time keeping fees low and continuously improving their services to compete with major exchanges like Binance.

 

[Yugocean]

The fee war will eliminate many exchanges that cannot afford to compete with the major exchanges. The services that Binance is providing are very convenient. Smaller exchanges will have a hard time keeping fees low and continuously improving their services to compete with major exchanges like Binance.

Sure, Binance is trying its best by luring Bitcoin traders into its fold. Many exchange platforms charge small fees, but 0 fees is easy to get lured, especially in the down market, when smallest point also makes worth for saving in your profit, or decrease the loss.
Binance has added free ETher trade too, this means if people trade BTC and ETH pair in Binance, they do not have to pay any fees at all, this is very good opportunity for traders, might other crypto will also join a फीलेस trading environment.